Information relating to the capital structure of Harry Porter Corporation at December 31, 2010 and 2011, is as follows: Outstanding Common stock.................................................... 270,000 shares Convertible preferred stock noncumulative (issued in 2009).................. 24,000 shares 7.5% convertible bonds (issued in 2010)............................... $900,000 Stock options to purchase 32,000 shares at $12. Market price of Harry Porter stock was $18 at December 31, 2011. Harry Porter Corporation paid dividends of $4 per share on its preferred stock. The preferred stock is convertible into 48,000 shares of common stock. The 7.5% convertible bonds are convertible into a total of 26,000 shares of common stock. The net income for the year ended December 31, 2011, is $760,000. Assume that the income tax rate is 30%. Compute basic and diluted EPS for the year ended December 31, 2011.
Information relating to the capital structure of Harry Porter Co
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